Investing.com -- Shares of U.S. space companies were trading sharply higher on Wednesday following a late Tuesday report by The Information that SpaceX is aiming to file its initial public offering prospectus with regulators later this week or next week.

According to the report, SpaceX could seek to raise more than $75 billion in the IPO. Various media outlets previously reported that the company may be looking at a valuation of as high as $2 trillion.

Shortly after 10AM, Sidus Space climbed 24.9%, while Rocket Lab added 11.4%. AST SpaceMobile rose 0.0% and Satellogic gained 19.9%.

Virgin Galactic was up 6.3%, Planet Labs advanced 10.0% and Intuitive Machines climbed 19.7%.

Telecoms company EchoStar, which owns SpaceX stock, rose 8.5%. Destiny Tech100, a fund that invests in privately owned technology companies, surged 19.9%.